Keybanc Maintains Overweight on Civitas Resources, Lowers Price Target to $89
Portfolio Pulse from Benzinga Newsdesk
Keybanc analyst Tim Rezvan has maintained an Overweight rating on Civitas Resources (NYSE:CIVI) but reduced the price target from $96 to $89.
January 11, 2024 | 9:29 am
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Keybanc analyst Tim Rezvan maintains an Overweight rating on Civitas Resources but lowers the price target from $96 to $89.
While the reduction in price target could suggest a less optimistic view on the stock's valuation, maintaining an Overweight rating indicates that the analyst still sees the stock as a good investment relative to the sector. The impact on the stock price is likely to be neutral in the short term as the positive rating is counterbalanced by the lower price target.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100